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INDUSTRIAL PRODUCTION INDEX PICKS UP 5.4% IN APRIL
In January-April period, processing and manufacturing industries grew 4.9 percent and 5.1 percent respectively. Electricity energy production and distribution expanded 1.9 percent and 7.6 percent. Water distribution, sewage and waste water treatment grew by 1.5 percent and 9,7 percent. Mining decreased by 16,7 percent.
SBV SEEKS TO EXTEND DEBT RESTRUCTURING TO SUPPORT ECONOMIC RECOVERY
On May 15, the SBV announced it is seeking feedback on a draft amendment to Circular 02/2023/TT-NHNN, which is designed to help mitigate the rise in non-performing loans on banks’ balance sheets and to allow banks to continue assisting customers facing financial difficulties.
MULTINATIONALS KEEN TO THRASH OUT GLOBAL TAX ARRANGEMENTS
“Samsung has been aware of the GMT since its early days, and is eager to gain insights into the Vietnamese government’s support for businesses in line with its implementation,” she said at the event, hosted by the Vietnam Association of Foreign Invested Enterprises and the Washington-based International Tax and Investment Centre (ITIC).
CONSUMER CONFIDENCE IN ECONOMIC RECOVERY REACHES FIVE-QUARTER HIGH
Vietnam's GDP expanded by a healthy 5.66 per cent in the first quarter of 2024, marking the strongest first-quarter growth since 2020. While slower than the previous quarter's 6.7 per cent growth, this momentum indicates the country is on track to achieve its 2024 economic targets.
GREEN ECONOMY, DIGITAL ECONOMY BREAKTHROUGH OF VIETNAM-CHINA TIES: PM
Addressing a Hanoi seminar with 19 Chinese groups operating in green economy and digital economy, the leader said the meeting, the first of its kind, aims to materialise high-level perceptions reached by Party General Secretary Nguyen Phu Trong and Party General Secretary and President of China Xi Jinping, who agreed to build the Vietnam-China community with a shared future.
TAX AND FEE SUPPORT HINGES ON MPI PROPOSAL APPROVAL
“Business and production activities of enterprises remain in big difficulties. Domestic purchasing power has reduced and people are tightening their belts,” the MPI stated. “Demands in the domestic market are still standing at a low level, while manufacturing and processing enterprises have low competition. These are among the biggest difficulties.”